Question

What do you mean by monopolistic competition also its characterictics in hindi?

Answer 1

Answer:

Explanation:

Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the ...

Answer 2

Explanation:

The two important sub­divisions of imperfect competition are monopolistic competition and oligopoly. Most of the economic situations “are composites of both perfect competition and monopoly”. Chamberlin’s monopolistic competition is an amalgam or an admixture of perfect compe­tition and monopoly.

Characteristics of monopolistic:-

1.Large number of products

2.Differentiated products

3.Elastic demand Curve

4.Non price competition

5.Free entry and exit

6.Product group